Vietnam sees US$7.21 billion trade surplus in 2018

Machinery, equipment, and components see the highest growth in export revenue compared to other commodities in 2018. (illustrative image)

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NDO - Vietnam posted a trade surplus of US$7.21 billion in 2018, US$5.1 billion higher than the trade surplus in 2017, the General Department of Vietnam Customs stated on December 27.

The country reported total import-export revenues of US$482.23 billion in 2018, an increase of 12.6% against 2017, including US$244.72 billion worth of export revenue, up 13.8%, and US$237.51 billion worth of import revenue, up 11.5%.

In December alone, the total import-export revenue of Vietnam reached US$42.2 billion, down 2.6% over the previous month, including US$21 billion of export revenue (down 3.4%) and US$21.2 of import revenue (down 1.8%).

Machinery, equipment, and components earned total export revenues of US$16.53 billion in 2018, an increase of 28% over 2017, and was the highest growth in export revenue compared to other commodities.

Garments and textiles came in second in the expansion of export revenue at 16.6%, posting total export revenues of US$30.45 billion.

Meanwhile, fabrics reported the largest expansion in import revenue this year at 13.5%. It was followed by computers, electronic products and components at 12.5%.